Nifty gave a flat to negative opening taking cues from the world markets, the indices witnessed a sideways volatile session intraday.The markets recovered in the afternoon but the index closed the session with losses as it could not hold on to the gains.Nifty did not make a new lower low and again closed lower, around its 50DMA levels. Today Nifty has to cross 5280 and hold 5240
levels on a closing basis so as to make a good base for 5380-5450 levels in the days to come. Failing to do so would pull the Nifty till 5180-5170 from current levels, before any fresh rally. The view on the nifty would remain neutral until 5200 is broken on the downside or until 5280 is held on a closing basis for 2-3 trading sessions.
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